Iberia To Set Up Feeder Subsidiary

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By Jens Flottau

Iberia yesterday announced massive changes to its business model in an effort to return to profitability, including creating a new subsidiary to feed traffic to Madrid.

The airline’s board of directors approved the strategic plan, which will be implemented by 2011. “The airline industry has never experienced such a dramatic situation,” Chief Operating Officer Rafael Sanchez-Lozano said. “It is essential for us to use imaginative means to transform Iberia into a sound and viable project.”...

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